Mark Lerner takes control of Nationals from father Ted

The team announced that Ted Lerner is stepping down and will be succeeded by his son after Major League Baseball approved the move at its quarterly meeting in New York.

Ted Lerner has controlled the Nationals since his family bought the team from MLB in 2006, the year after the team moved from Montreal. The real estate magnate says owning a team in his hometown was always a dream and he knew his son eventually would run the club.

The 64-year-old son assumes the leading ownership role about a year after his left leg was amputated because of cancer. He says it"s special for his parents to see him take control of the franchise.